Snap-On Incorporated (NYSE:SNA) Position Trimmed by Denali Advisors LLC

Denali Advisors LLC lowered its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 36.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,607 shares of the company's stock after selling 902 shares during the period. Denali Advisors LLC's holdings in Snap-On were worth $542,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Snap-On by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock worth $2,174,233,000 after purchasing an additional 19,328 shares during the period. First Trust Advisors LP boosted its stake in Snap-On by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after acquiring an additional 411,317 shares in the last quarter. Geode Capital Management LLC boosted its stake in Snap-On by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock valued at $556,022,000 after acquiring an additional 27,700 shares in the last quarter. Earnest Partners LLC boosted its stake in Snap-On by 1.9% in the fourth quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock valued at $327,213,000 after acquiring an additional 18,209 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Snap-On by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 927,564 shares of the company's stock worth $314,896,000 after buying an additional 50,187 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 23,172 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer owned 804,510 shares in the company, valued at approximately $254,104,483.50. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the sale, the chief financial officer owned 109,560 shares of the company's stock, valued at $35,808,590.40. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,815 shares of company stock valued at $9,482,532. Insiders own 3.90% of the company's stock.

Snap-On Trading Down 1.2%

Shares of Snap-On stock traded down $3.88 during mid-day trading on Wednesday, hitting $328.64. The stock had a trading volume of 104,306 shares, compared to its average volume of 369,612. The firm has a 50-day moving average of $319.02 and a two-hundred day moving average of $327.67. The firm has a market cap of $17.14 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 2.30 and a beta of 0.76. Snap-On Incorporated has a 12-month low of $266.56 and a 12-month high of $373.90. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $5.07 EPS. The business's revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's payout ratio is currently 45.65%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Longbow Research raised shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday, March 31st. Robert W. Baird lifted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a report on Tuesday, July 15th. Finally, Bank of America lifted their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

Snap-On Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.